In more than one instance the option indicated by Mirus’ analysis was not the one which would have led to the largest fee, but it was always the one which was demonstrated to be in the best long-term interests of the company’s shareholders.
- Allen L. Shulman, President, Interland
- Allen L. Shulman, President, Interland
Press Releases
Mirus Advises DxCG on Transaction
05/10/2004 - Boston, Massachusetts
Mirus Capital Advisors announced today that its client, DxCG, Inc., has been acquired by Insurance Services Office, Inc. ("ISO"). Terms of the transaction were not disclosed.
DxCG is a leader in the exploding market for predictive modeling solutions that enable healthcare providers, payors and employers to forecast healthcare costs. The Company has more than 175 clients, including Blue Cross Blue Shield of Michigan, Highmark Blue Cross Blue Shield, Kaiser Permanente, and Pacific Business Group on Health.
"We were thrilled with results that Mirus achieved for our shareholders," said Marilyn Schlein Kramer, President and CEO of DxCG. "Mirus has been a trusted advisor and keen advocate, and the Mirus team executed an intensive, efficient process that allowed management to focus on the business plan while maximizing shareholder value through this transaction."
In an ISO press release, Frank Coyne, ISO's chairman, president and CEO, commented, "We were drawn to DxCG because their models are firmly rooted in sound medical science and represent the most credible predictive methodologies available in the health care market." Coyne added, "We will continue to help health care payors deliver quality patient care while maximizing cost efficiencies, as we explore exciting new applications for DxCG's predictive models, including those within the property/casualty market."
"The sale of DxCG exemplifies our burgeoning practice in health technology and services companies," said David Hoffer, a managing director at Mirus. "We are committed to identifying quality companies in this space and helping them to realize value through highly strategic business combinations."
About Mirus Capital Advisors
Mirus provides investment banking solutions to middle market corporations in targeted technology, healthcare and manufacturing industries. Mirus delivers merger advisory, private equity raising, fairness opinions and valuation services to middle market entrepreneurs, corporations and professional financial investors. Founded in 1987, Mirus has successfully completed a number of software transactions for both entrepreneurs and professional investors. Additional information about the firm is available on Mirus’ web site at www.merger.com.
About DxCG
DxCG promotes fair and efficient health care by providing software solutions to more accurately plan, budget and evaluate health care management programs. DxCG has more than 175 clients. The company's Diagnostic Cost Groups (DCG) and RxGroups(R) predictive models are used to negotiate health-based payments, identify opportunities for disease management, profile physicians and evaluate managed-care programs. Recognized by leading independent researchers as the most proven models available, DxCG's methodologies are used by the federal government to set payment rates for the Medicare Advantage program. For more information, visit the company's website at www.dxcg.com.
About ISO
ISO is a leading provider of products and services that help measure, manage and reduce risk. ISO provides data, analytics and decision-support solutions to professionals in many fields, including insurance, finance, real estate, health services, government and human resources. Professionals use ISO's databases and services to classify and evaluate a variety of risks and detect potential fraud. In the U.S. and around the world, ISO's services help customers protect people, property and financial assets. . For more information, visit the company's website at www.iso.com.
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